10 things to consider before evaluating balance sheet

If you are a Secretary, President, or the Treasurer of a gated community, terms like maintenance dues, late payment charges, reconciliation of the balance sheet are a part of your everyday job.

For a society to run smoothly, maintenance dues have to be paid on time, the accounting has to be precise, and the treasurer must have clear insights on the society’s income and expenses.

However, not every treasurer or secretary comes from an accounting background and for this very reason, ApnaComplex offers a robust, fully automated accounting and billing solution with 100+ financial reports and 30+ audit-ready reports.

When the time comes to reconcile or evaluate a balance sheet, the Treasurer must consider various aspects and pay attention to a handful of factors before evaluating the balance sheet and submitting for audit.

Keep reading to learn about these essential factors and why they can never be overlooked!

Fixed Asset Verification

A Treasurer must ensure that whatever fixed assets physically available in the society’s premises,  must reflect on the balance sheet as well. This will help the treasurer keep note of the available assets, depreciated value, etc.

Outstanding receivable confirmation

All outstanding amounts, including maintenance charges, vendor payments, service charge dues, etc are received and updated on the balance sheet. Failing to add even a negligible amount can cause confusion and discrepancies which will cause trouble to the Management Committee during the time of auditing.

Bank Reconciliation

The treasurer must ensure that the bank balance reflecting on the account and bank statement/balance sheet are the same. If it doesn’t match, the treasurer must spend eons of time figuring why the statement and balance doesn’t match and must fix it before auditing.

Thankfully, with ApnaComplex, a treasurer doesn’t have to worry about this, for the solution auto-reconciles the balance sheet. It also gives the comprehensive details of overdue, advance payments, late payment charges, etc, saving a treasurer’s time by more than 80%.

Vendor Payments

Vendor payments, including any loans or advance payments made to or received from vendors, have to be cross checked and recorded along with the date and vendor details. The treasurer must also keep a copy for all the invoices and receipts for future references.

The ApnaComplex system, enables the treasurer to auto-generate receipts and invoices, and maintain digital repository of the same.

Vendor Payable Reconciliation

Payments made to vendors must be recorded and reflected on the bank account and bank statement.

Corpus Fund and Sinking Fund

The Treasurer must confirm that the Corpus Fund (capital amount, or the money provided by the builder to RWA during the formation of RWA), and the Sinking Fund (emergency money) are untouched. They should also ensure that the money in the bank and the amount reflected on the balance sheet/statement are the same.                        

Fixed deposit and interest

The Treasurer must confirm the money fixed deposit and the interest it generates. It should match the bank statement.

Year ending provision

Any provision such as security services, electricity charges, equipment maintenance services that happened before March has to be incorporated in the provision and reflected on the balance sheet.

Refundable Deposit and Advances

The Treasurer must also confirm the Refundable deposits (if any) and advance payments.

Statutory Payment payable and Compliances

The Treasurer must make sure that the TDS payments, GST payments, ITR payments, etc are done and all the relevant forms are filled and submitted.

We hope you find these quite useful! ApnaComplex’s accounting solution is the only fully-mature solution made for and by gated communities available today. It is GST compliant and fully automated. If you would love to simplify your society’s accounting processes and save your time and energy, visit apnacomplex.com


3 Easy Steps to start using ApnaComplex Gatekeeper

With gated societies becoming the new norm for community living, security at the gates is of utmost importance. While security cameras and pen-and-paper visitor logs have always been a go-to solution, they often fall short in tracking the traffic in and out of the gate.

Why ApnaComplex Gatekeeper?

Gatekeeper by ApnaComplex is a proven technological solution to the security needs in your Apartment Complex. Not only is it convenient, but it also provides the best value-for-money. Gatekeeper is part of the integrated ApnaComplex mobile App that also provides other apartment management solutions. It is a complete package for all your apartment management needs.

Gatekeeper tackles several security concerns that may arise in a gated community. A simple mobile application will allow you to track visitors, delivery agents, domestic staff and even your vehicle. Gatekeeper provides not just app-based security but is also easy to integrate with hardware installations like RFID or Biometric devices. We also have a unique feature that provides real-time notification when your child’s school bus is at the gate!

What is more, at ApnaComplex, we take Data Privacy very seriously. Your information is saved on our database with several layers of security. Access to this data is unavailable to anybody without your express permission.

How to join ApnaComplex Gatekeeper?

You can join ApnaComplex in three easy steps:

1) Create an online portal.
If you are a member of the management committee, all you have to do is fill out the form. We have a step-by-step guide to get you through the verification process.

2) Provide details
Log in and enter the details about your complex like the number of blocks, apartments and residents. Gatekeeper is now at your service! We also provide a free demo on demand to familiarize you with the app.

3) Download the app
Download the Gatekeeper app for your security staff and start using it. Gatekeeper is also available in regional languages like Marathi, Hindi and Tamil. Language is no longer a problem!

It is that simple! Security for you and your family made hassle-free. You can now manage your entire apartment complex with just a smartphone! ApnaComplex is available on both Android and IOS.


ApnaComplex Gatekeeper now supports IVR calls

ApnaComplex Gatekeeper shall now automatically call residents on IVR to seek approvals for visitors.

IVR call is in an additional step on top of audio push notifications that ApnaComplex sends to residents when a visitor shows up at the Security gate. If the resident for any reason does not respond to the audio push notification, system will automatically initiate IVR calls to the registered mobile number of the residents.

This eliminates the need for security to do manual verification of visitors by calling over intercom.

This also reduces the overall efforts of security staff who other wise will have to call each resident over intercom to ascertain the visitor.

Also the time spent by delivery personnel at the gate reduces as IVR is initiated in parallel for all flats s/he is going to visit and, which otherwise is a sequential process.

Please reach out to us to enable IVR for your society.


go cashless

6 Reasons Why A Cashless Society Is Here To Stay

With the new cashless wave gaining momentum in India, societies all over are adopting various ways of doing their bit to forward this initiative. Here’s why everyone should go cashless starting from today –

 

(Firstly, to avoid this…)

go cashless

 

  • Track dues and payments automatically

Now, Indians will make payments for most purchases/liabilities online. Automatic withdrawal and payment from connected accounts are also an option. So, there are no dues pending at the end of every month and that gets ticked off your to-do list instantly, without even having to make a confirmation.

go cashless

 

  • Cloud-based auto sync in real-time

All transactions are updated in books online and accounts are kept up-to-date after every transaction. Even people not so good at math will like this number game. Going cashless isn’t so bad after all.

go cashless

 

  • No long queues to wait around in

Queues that move quickly are a crowd favourite. A place where personal presence is optional is looked forward to by everyone, not just by introverts. Anyone who can’t be at a particular place at a specific time would appreciate such a development.

go cashless

 

  • Countrywide acceptance of this stance

This line of thinking will be eventually accepted and put into practice all over the nation. So, purchasing most things gets easier when done directly using an e-account.

go cashless

 

  • Chances of robbery & theft are low

When there isn’t enough to rob, why would someone painstakingly make the effort to break in and steal? Travelling outstation also gets easier since staying connected with your funds becomes more flexible. This is a great move for tourists looking forward to exploring our country.

go cashless

 

  • You can’t get lazier than swiping a card / pre-storing payment details just ONCE!

There will be no such thing as overusing your card, especially during difficult times. Swipe it for a purchase and you’re good to go. No more hunting for change in your pocket / wallet / bag / other nooks and crannies they managed to slip into. Added bonus: It just adds to your laziness. Now, who would want to go against that?

go cashless

 

But, a move like this cannot be taken for granted. Regular monitoring of one’s own funds is the primary reason for this move to be able to thrive. You can check your account details online without the hassle of visiting the bank by visiting the website provided by it instead. The web and mobile applications made available by banks equip you with another option to go cashless.

 

Let’s make a conscious and informed effort towards having a cashless society.

 

Going cashless in your society is easy with Collection Gateway by ApnaComplex. Try it here. Go cashless today!

Announcing Water Monitor by ApnaComplex – Track Water Tanker Trips and Consumption in your Apartment Complex

We are proud to announce the launch of “Water Monitor” – an Android App to easily keep track of the Water delivered by Tankers to your society.
Water Monitor by ApnaComplex
Getting Water Supply from private tankers in an inconvenient truth in most housing societies in urban areas. Keeping track of the trips made by tankers is always a tedious and susceptible to manipulation. In addition, at the time of payments to vendors, calculations need to be done manually on the payment to be released. Care needs to be taken to avoid double payments for the same trips. There is no easy way to understand the consumption trends as well.

Water Monitor solves all these and does more.

What is Water Monitor?

Water Monitor is a new-age android app offered by ApnaComplex which is used by the security staff at the entrance gate of large apartment complexes and allows them to record water tankers coming in and the volume of water being supplied with pictures. Committee members can monitor and analyse the number of water tankers coming in and the volume of water being supplied from the ApnaComplex portal directly. The application can be installed on any Android smartphone or a tablet. Just click a photo of the water tanker coming-in, enter details and upload all the details on your complex portal in less than 15 seconds.

Who Needs the Water Monitor App and Why?

Any large apartment complex need this app for easy monitoring of the water supplied by the water tanker agencies. Usually any large apartment complex require a minimum of 300-500 water tankers to address the water needs of the residents every month. This huge volume of water is usually supplied by multiple water supplying vendors. Since there are multiple supplier and multiple tankers coming in multiple times, keeping a track of the water tankers and the volume of water supplied becomes a tedious job. Too many entries and log books leads to confusion, in many cases treasurer ends up paying more money to the vendors.

How does the Water Monitor App Work?

As soon as a water tanker approaches the apartment complex gate. The security guard will open the ‘Water Monitor’ application and enter the 4 digit password to login. The security guard will select details like vendor name, volume of water being supplied – in case of shortage security can update the actual volume, click and upload photos of the water tanker as a proof. The most important aspect of Water Monitor is its ability to run stand alone without internet connection and sync up with master database of ApnaComplex portal as and when internet connection is made available. Once the details are uploaded, an SMS with all the details are automatically sent to the committee member or manager who is responsible for monitoring water supply in the society.

How to View Details and Analyse Data?

The designated committee members can log into the complex portal and view the details like—
• Vendor and the volume of water supplied
• Number of tankers have entered the complex of a specific or all vendors
• Billed/unbilled trips of specific/all vendor
• Amount of money spend of specific/all vendors
• Select the period and view the total amount of money spent on water with specific/all vendors etc.
The above details can be viewed for different interval period by providing the dates for analysis.

Water Monitor will certainly make a big difference in the way your Society is monitoring the delivery by tankers and the subsequent billing associated with this.

Water Monitor is exciting. How do I get one for my society?

All our Accounting Edition and Ultimate Edition customers can see a new menu item for Water Monitor under “Expenditure” to do the configuration of Water Tanker Vendors and Water Tanker Trips. Next, download and install Water Monitor App and you are ready to roll!

Yet another instance of true innovation from ApnaComplex.com – be it Gatekeeper App for visitor tracking, or bringing real-time balance sheet, or having bio-metric devices for staff attendance, or making society software accessible on mobile phones – we continue to raise the bar higher and higher in Apartment Management space!


ApnaComplex now on iOS!

We are excited to announce the availability of ApnaComplex App on iOS from today.

Apple_iOS-new
Users should be able to log and track complaints, check out members and staff directory, get useful contacts, send SMSs to entire community and more.

ApnaComplex is a pioneer who leapfrogged Society Management to the Smart Phone generation with the launch of ApnaComplex Android App way back in May 2012. We have lots of exciting enhancements on the iOS App as well along with Android in coming days! Stay tuned for more!


Complete Help desk Management on Mobile Phone in your Apartment Association now!

Inline with the ApnaComplex.com vision to reduce efforts for committee members and costs for the society, we now have enhanced our Complaint Box offering on the android mobile app.

Any Apartment can now setup their help desk management processes easily. ApnaComplex on Android gives your members, residents, committee members, staff to log, track, cancel, close complaints directly from mobile.

Societies now do not need to have extensive setup like help desk with phone, PC with broadband connection to manage the grievances from members. All your would need is a decent android phone or tablet with data connection to get your help desk going.

Owners/Members can login using the app, record their complaints (or SMS the complaints to the help desk number ApnaComplex offers), check status, provide updates, cancel/close complaints. Residents can even provide feedback on the service levels immediately from the mobile itself.
Manage Complaints on the move with ApnaComplex App
All these coupled with the powerful back end capabilities of auto-escalation of unattended complaints – the committee members can provide follow up with staff for action (just in case you did not realize – all staff contacts are available on the app – so that can directly call or SMS any staff as needed).

Imagine your facility supervisor going on the rounds with an andriod tab, updating the complaint a resident have logged in real time and resident providing feedback instantly. Isn’t this what professional society management all about? 🙂

With ApnaComplex Android App, now all the staff can login (they will automatically see the modules that they are given access to) and manage the complaints.


Get your Society on ApnaComplex.com – Today!

ApnaComplex is India’s most mature and comprehensive apartment management software platform. The platform also includes Facility Management Software for Housing Societies to automate various aspects of society office – including Help desk Management, Asset Management, Inventory Tracking, Staff Attendance Tracking etc. ApnaComplex is designed to make the life of secretary and estate managers lot better by reducing efforts put in towards administration of a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 15-day trial as well so that you can try before you buy!


Discussion Forums and Groups now on ApnaComplex Android App

One of the most awaited features on our pioneering android app – ability to participate in Community Forum Discussions and Groups is now available!

Members can now reduce their email clutter and use the mobile app to access the forums and discussions on the go!
Even the implicit smart mailing lists that ApnaComplex offers for owners and committee members are available on the mobile app.

So, what are you waiting for? Download/Upgrade the app from Google Play NOW!


ApnaComplex Android App Upgrade: Share Pictures of Community Events instantly with all Society Members

We are excited to announce the release of next version of ApnaComplex App (Version 1.2) on Google Play.

Share Photos with Society from your Android Phone using ApnaComplex App

Society Photo Gallery on ApnaComplex Android App

One of the most popular and unique features of ApnaComplex portal – the Society Photo Gallery is now available on ApnaComplex Android App!  With this, you can now click snaps of the community events and share with all other members of the society instantly right from your phone.   Members can also view all the albums of the society’s gallery right from the phone and comment on photos.

An enhancement to the complaint box is released as well – the attachments associated with complaints can be seen now from the phone itself.

Go, get the ApnaComplex Android App NOW!


Want to manage your Apartment or Housing Society in a Better Way? Get on to ApnaComplex – Today!

ApnaComplex is India’s best web based housing society software.

ApnaComplex is designed to make the life of residents and owners lot better by bringing in more transparency and accountability in managing a housing society. Check out why we say ApnaComplex is Best Apartment Management Software and sign up your society today to get the benefits! We even offer ApnaComplex – Free Edition with awesome capabilities which you can use free of cost forever.


ApnaComplex now available on Android

Today, we are excited to bring you ApnaComplex for Android.

For the first time, Housing Societies and Apartment Complexes in India can take advantage of the Smart Phones to manage their affairs.

In this first version of ApnaComplex for Android, all our customers having a member account in ApnaComplex can login via the native Andriod app on their mobile and access Complaint Box and Financial Statement on the go.
ApnaComplex for Android

With ApnaComplex for Android, Users can log new complaints on the go – as and when they notice an issue. There is no need to remember the issue, come back to the desk, login and raise. Once logged, the complaint will follow the usual assignment and escalation process – just like when a complaint is logged via web portal. Users can also view open complaints and the updates on the complaint. Users can also add more notes to the complaint.

Users can also check the outstanding balance and detailed financial statement using ApnaComplex for Android.

We have worked hard to frog leap Apartment Management and Society Accounting into the smart phone generation – look forward to see you using ApnaComplex for Android and hearing your feedback. Enjoy and wait for rapid addition of more and more features on the smart phone!


Want to get smart in your housing society management? – Get on to ApnaComplex – Today!

ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners way lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!